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  • #2,581
  • Aug 8, 2008 12:01am Aug 8, 2008 12:01am
Made a little on the GY down move overnight

went long AU at 0.9010 this morning with no stop
currently at 0.8950 after going to a low of 0.8930
which is where my stop is now

so much for support at 0.9000
seems oversold now to me but anythings possible from here
big moves tend to gather momentum and keep rolling for 24 hrs

steve
Don't kill your dreams - execute them.
  • #2,582
  • Aug 8, 2008 12:04am Aug 8, 2008 12:04am
that was a fast eurusd long punish. it might be my fault.
it is always the same, if i am tempted to take calls they most likely fail
  • #2,583
  • Aug 8, 2008 12:30am Aug 8, 2008 12:30am
Attached Image (click to enlarge)
Click to Enlarge Name: !!nobrain.gif Size: 31 KB


I think I am beginning to "get it", as in understand this method. Waiting for the price to bounce off of support/resistance ( the big "3" ), is proving to be highly profitable
  • #2,584
  • Aug 8, 2008 12:47am Aug 8, 2008 12:47am
good morning everyone

just woke up to find my EU long stopped for a massive -103 pips all i can say is ........OUCH !!

  • #2,585
  • Aug 8, 2008 12:49am Aug 8, 2008 12:49am
Quoting CodeMuncher
Attachment

I think I am beginning to "get it", as in understand this method. Waiting for the price to bounce off of support/resistance ( the big "3" ), is proving to be highly profitable
Does your "big 3" stay still. Tried using that on larger t/frames but it doesnt offer any advantage at all. If a new high or low is made it just moves to that, so whats the point?
  • #2,586
  • Aug 8, 2008 12:55am Aug 8, 2008 12:55am
What is the Big 3?
The way is narrow
  • #2,587
  • Aug 8, 2008 12:57am Aug 8, 2008 12:57am
Quoting kimmy
good morning everyone

just woke up to find my EU long stopped for a massive -103 pips all i can say is ........OUCH !!

Morning/afternoon, yes unbelievable drop today during asian session. "The trend is your friend" I think some say, perhaps their right. I went long earlier on what I thought was a bottom/support on Gb, at 9340 fib support area, but straight through after a little play around.
  • #2,588
  • Aug 8, 2008 1:00am Aug 8, 2008 1:00am
Quoting Sainz4Pips
What is the Big 3?
On codemunchers charts the yellow dot with a 3. Its an indicator which signals potential tops & bottoms but dont bother it changes like the wind.
  • #2,589
  • Edited 1:26am Aug 8, 2008 1:05am | Edited 1:26am
Yes, I've found that almost every indicator looks good two bars back. Price action is alot more reliable in my book.

ps. Would love to have you guys comment or check out my journal. the link is in my sig. yays haha
  • #2,590
  • Aug 8, 2008 1:24am Aug 8, 2008 1:24am
Quoting Verto
Yes, I've found that almost every indicator looks good two bars back. Price action is alot more reliable in my book.
That's what I love about this you can back test it as if it were live...
Time hides Nothing
  • #2,591
  • Aug 8, 2008 1:36am Aug 8, 2008 1:36am
Quoting kimmy
good morning everyone

just woke up to find my EU long stopped for a massive -103 pips all i can say is ........OUCH !!

I feel your pain Kimmy - It looked so right!!! I almost fell off my chair this morning when I turned my monitor on. I think there were some valid comments there about going with the trend - Otherwise I guess we are trying to pick tops and bottoms which I'm sure is much harder...

There's always the next bus
Time hides Nothing
  • #2,592
  • Aug 8, 2008 2:11am Aug 8, 2008 2:11am
Is there anything stopping the USD at the moment? I'm glad I took away the pending trades I had at 1.5300 before going to bed last night. Trying to pick new bottoms but will not be entering trades here either as this trend is toooo strong - look at that spike down...
Attached Image (click to enlarge)
Click to Enlarge Name: EU.JPG Size: 93 KB
  • #2,593
  • Aug 8, 2008 2:11am Aug 8, 2008 2:11am
Going to be unable to trade for most of today so i wish you all a great weekend folks and the best of luck today with your trades !!

Happy Pipping
  • #2,594
  • Aug 8, 2008 2:23am Aug 8, 2008 2:23am
Wonder if EUR will hold here a 142 I'm not game to bet against it at this stage
Time hides Nothing
  • #2,595
  • Aug 8, 2008 2:25am Aug 8, 2008 2:25am
Quoting daytrading
could be a long way down...
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd0708.gif Size: 15 KB
Enter Signature
  • #2,596
  • Aug 8, 2008 2:26am Aug 8, 2008 2:26am
Quoting len979
Short eur/usd 1.5210 .. small position and a bit late.
Just closed this trade at 1.5145 +65

Trying to come back one pip at a time from earlier losses
  • #2,597
  • Aug 8, 2008 2:31am Aug 8, 2008 2:31am
Quoting CindyXXXX
Wonder if EUR will hold here a 142 I'm not game to bet against it at this stage
I've lost a good many pips this week trying to find a bottom on g/u and e/u. I'm glad though... it is an important lesson and I'm glad it happen to me now, early on. I learned that the trend is more than your friend it's your lover.
  • #2,598
  • Aug 8, 2008 2:38am Aug 8, 2008 2:38am
Quoting Verto
I've lost a good many pips this week trying to find a bottom on g/u and e/u. I'm glad though... it is an important lesson and I'm glad it happen to me now, early on. I learned that the trend is more than your friend it's your lover.
Until she cheats on you and steals your car....

Where is Joey Greco when you need him???
Lemming Forex! The Way to Trade....
  • #2,599
  • Aug 8, 2008 2:41am Aug 8, 2008 2:41am
I am going short at 212.08 if price test the line again
The way is narrow
  • #2,600
  • Edited 3:32am Aug 8, 2008 3:20am | Edited 3:32am
Euro (EUR/USD) Short @ 1.5193.

Last mini-Support level on the crash down.

Looking now for a weak recovery attempt before shorting off again around 1.5193.

This is just above its Weekly Fibo 50% level @ 1.5173, its last tiny bounce-up point before the continuing drop.

Not a lot of historical confirmation at this level, but there was a congestion area around this mark back in late February / early March timeframe.

Tight stop above the double zero, maybe 1.5218.
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